The Saudi Central Bank (SAMA) announced licensing “Tamawal” company to provide finance aggregation services, raising the total number of licensed finance aggregation companies in Saudi Arabia to six.
This move is part of SAMA’s continuous efforts to support the financial sector, enhance the efficiency and flexibility of financial transactions, and promote innovation in financial services to boost financial inclusion across the Kingdom, ensuring accessible financial services to all segments of society.
SAMA emphasized the importance of dealing exclusively with licensed or authorized financial institutions, to safeguard consumer rights and strengthen trust in the financial sector.
For a full list of licensed and permitted financial institutions, please visit SAMA’s official website.
